Destruction of American Middle Class Via Housing Affordability , Amerifornia is real !

Wall Street isn’t to blame for the chaotic housing market
Housing prices have yanked the dream of homeownership out of the desperate, clutching hands of millions. Countless tenants don’t even have that dream, chafing under the increasing rent burdens they are forced to bear. And to top it all off, the rich just keep getting richer

The U.S. house price boom continues strong, The great housing boom in the U.S. continues unabated after eight years of strong house price growth. It has been buoyed by continued low interest rates

The number of home sales and the median home price statewide hit record-breaking highs in 2021, with Dallas-Fort Worth agents leading the state in sales, a new report from Texas Realtors shows.

The state saw 416,853 sales last year, up 6.2% from 2020. More than a quarter of 2021′s sales statewide were in the D-FW area, with local real estate agents selling 112,379 homes. The region’s number of home sales stayed relatively flat from 2020 to 2021, dipping slightly by 0.2%

Dallas-Fort Worth led 2021′s record-breaking Texas housing market

The number of Austin sales increased 2.7% to 41,401, Houston sales grew 12% to 111,115, and San Antonio sales rose by 4.7% to 42,053.

“Demand for housing hit an all-time high, and we saw many multiple-offer situations, including homes that attracted dozens of offers and sold for well above asking price,” said Russell Berry, 2022 chairman of Texas Realtors, in the report. “Some buyers found it a frustrating environment.”

The median sale price in D-FW soared 18.6% to $345,000 compared with 2020. Statewide, the median price reached $300,000, up 15.7% from the prior year.

Homes sold in an average of 25 days on the market, 20 days less than in 2020.

Luis Torres, research economist for the Texas Real Estate Research Center at Texas A&M University, said in the report that rising mortgage rates will weaken housing demand and ease home price pressures in 2022.

“The housing market will remain strong, with the major headwind being the low inventory of homes for sale, especially in the lower price ranges,” Torres said. “Homebuilders are trying to catch up with demand but are facing steep prices for land, materials and labor.”

Is Atlanta's housing market cooling off soon?

The year 2021 marked a banner year for home sellers and continued to outpace 2020's figures, according to the Atlanta Realtors Association.

The group said the median sales price in November last year hit $372,000, which is an increase of 21% from 2020. The average sales price went up 19% from the previous year.

But what about this year?

"It is not cooling off," said Joey Tucker, president of the Georgia Association of Realtors.

Which Florida housing markets are seeing the biggest price increases?

Home prices are skyrocketing everywhere, but two of the areas with the most shocking price jumps last year are right here in the Sunshine State.

On average, home prices rose 18.8% year-over-year in 2021, according to the S&P CoreLogic Case-Shiller US National Home Price Index, which tracks 20 cities across the nation.

"This is the highest calendar-year increase in 34 years of data," Craig J. Lazzara, Managing Director at S&P DJI., said in the report, "and substantially ahead of 2020’s 10.4% gain."

The city with the biggest increase on their list was Phoenix, Arizona, where average home prices shot up 32.5% last year over 2020. But right after that...

Which Florida city had the biggest increase in housing prices in 2021?
According to the S&P list that would be Tampa, with a 29.4% increase year-over-year.

After that comes Miami, with a 27.3% increase.

But those are the only two Florida cities on the S&P CoreLogic Case-Shiller US National Home Price Index. Other areas in Florida may have had higher increases.

Palm Beach County saw the median price go up 22%. in Daytona Beach, prices rose 19.7%.

Wall Street isn’t to blame for the chaotic housing market